Musgrave Minerals pockets more high-grade gold at Cue with Target 14 returning up to 12 metres at 8.7 g/t

Musgrave Minerals Ltd (ASX:MGV) (OTCMKTS:MGVMF) (FRA:6MU) has received further strong results at its flagship Cue Gold Project in Western Australia with regional aircore drilling at Target 14 within the new gold corridor west of Lena returning up to 12 metres at 8.7 g/t from 66 metres.

The high-grade portion of Target 14, 900 metres west of Lena, has now been identified over an area of around 200 metres with anomalous gold extending for more than 3 kilometres

As well as the 12-metre result in hole 21MUAC103 that terminated in high-grade gold mineralisation at the fresh rock interface, other results include: 

• 24 metres at 3 g/t from 40 metres, including 9 metres at 6.1 g/t from 40 metres; 
• 24 metres at 1.3 g/t from 60 metres; 
• 6 metres at 2.9 g/t from 24 metres; 
• 30 metres at 0.75 g/t from 24 metres; and 
• 78 metres at 0.42 g/t from 12 metres. 

The gold mineralisation at Target 14 occurs under a thin layer of transported cover and extends for more than 3 kilometres of strike and remains open. 

Assay results for more than 110 aircore drill holes are pending with results expected in the next three weeks. 

Defining near-surface mineralisation

Musgrave managing director Rob Waugh said: “The aircore drilling is continuing to define near-surface high-grade mineralisation and provide fantastic targets for basement follow-up along the new gold corridor west of Lena. 

“With drill hole 21MUAC103 terminating in high-grade mineralisation we are confident of being close to the primary basement source for this regolith gold mineralisation. 

“Follow-up RC drilling will commence in a few weeks after the first phase of basement drilling at Big Sky is completed, testing similar high-grade and extensive gold targets 2.5 kilometres south of Target 14.” 

Cross-section showing new aircore drill traverse at Target 14. 

RC basement drilling 

The company plans to begin a reverse circulation (RC) drilling program in the coming weeks to confirm the extents of the thick, near-surface regolith mineralisation and test areas for basement mineralisation below. 

This program will begin after the completion of drilling at Big Sky, which began this week, and will also test for multiple potential lode orientations, similar to what has been observed at the Break of Day deposit to the east.

If successful, the program will be followed by resource delineation drilling. 

Ongoing activities 

Musgrave’s work activities at its 100%-owned tenements include:

• Further RC drilling at the White Heat and Numbers prospects is underway with assays results expected mid-late May;
• Follow-up RC drilling to define the basement source of gold anomalism at the new Big Sky prospect to the south of Target 14 (commenced) with first assay results expected in late May; 
• Follow-up RC drilling to define the basement source of gold anomalism at Target 14 is scheduled to commence in around three weeks; and
• Works to progress the pre-feasibility study at Break of Day and Lena are continuing.

At the Evolution JV, diamond drilling to follow-up the extensive regolith gold anomalies identified in the regional aircore drilling program on Lake Austin is continuing.

Story by ProactiveInvestors